THE LEADERSHIP OF THE WB AND THE IMF BELIEVE THAT ARMENIA IS ABLE TO SOLVE THE DEBT PROBLEMS ITSELF

The Armenia’s participation in the program of the WB and International Monetary Fund for the writing off the debts of poor countries will have negative effect on investment fund and can frighten away the investors. That has been stated by the head of the second board for European countries of the IMF John Odling-Smi, who is in Yerevan these days. According to his words, analyses that were carried out lets us claim that ” the situation in Armenia is not so hard as in other countries”. The IMF representative is sure that Armenia is able to discharge its debts itself and does not need their restructuring. He has not excluded the possibility of the carrying out of the iterative analysis of Armenia’s obligations.
According to “Arka” agency information, it is Great Britain’s initiative to join Armenia, Azerbaijan, Georgia, Moldova, Tajikista n and Kirghistan the list of participants of the program for the debts writing off. According to information of the National statistics service, the state debt of Armenia was more than $ 900 million on March 31,2001.